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REPORT OF THE TREASURER 5
vided that the notice of such meeting shall state that an alteration of the
By-laws will be acted upon.
X. Any member in good standing may vote at any meeting, either in
person or by proxy duly executed.
IV.
THE REPORT OF THE TREASURER
To the Trustees of the Marine Biological Laboratory:
Gentlemen: Herewith is my report as Treasurer of the Marine
Biological Laboratory for the year 1934.
The accounts have been audited by Messrs. Seaman, Stetson, and
Tuttle, certified public accountants, and a copy of their report is on
file at the Laboratory and is open to inspection by members of the
Corporation.
At the end of the year 1934, the book value of the Endowments
Funds in the hands of the Central Hanover Bank and Trust Company
as Trustee, was
General Fund, Securities $ 908,979.66
in cash 2,635.71
Library Fund, Securities 192,820.25
in cash 994.44
Total book value $1,105,430.06
The income collected from these Funds was as follows
General Endowment $39,394.02
Library Fund 7,543.95
Income in arrears, some of which may never be collected, was on
December 31, 1934:
General Fund $12,966.50
Library Fund 2,897.05
The shrinkage in income from Endowment Funds was more than
made up by the extra dividends of the General Biological Supply House,
Inc. The income from this stock amounted during the year to $11,-
834.00.
The Reserve Fund was liquidated and the proceeds applied to the
further reduction of Devil's Lane mortgage.
Retirement Fund. A net total of $4,060 was paid out of the Retirement
Fund in pensions. The fund at the end of the year consisted of
securities of the book value of $21,847.03
Cash 713.24
Total $22,560.27
Income in arrears on December 31, was $131.63